Reuters reported that Shell is expected to spend $410 million over two years as they explore the Yuzivska shale gas area in Ukraine and determine the viability of its reserves.

As quoted in the market report:

Shell and Ukraine, which sees shale gas development as vital to easing its dependence on Russian gas supplies, signed a landmark production sharing agreement on Yuzivska this month. Kiev says the project could involve $10 billion in investments.

To view the whole Reuters report, click here.